FRANKFORT, Ky. (4/12/14) — Since first taking office in 2008, Kentucky Treasurer Todd Hollenbach along with his proactive volunteer based Treasure Finders Program has returned a record of more than $100 million of unclaimed property to the rightful owners.
“I set a goal of returning at least $100 million by the end of my second term” Hollenbach said, “but the Treasure Finders program has been so successful that we’ve reached our goal with time to spare and now we’re aiming for more!”
In a news conference today at the State Capitol, the Treasurer set a new goal of “120 in 120!” Hollenbach explained, “I will attempt to visit all 120 counties in the state, hold a Treasure Finders event and return $120 million before my service as Treasurer ends in 2015,” Hollenbach said.
Each year the Kentucky State Treasury collects millions of dollars from holders, such as banks and insurance companies, who by statute must transfer assets of inactive accounts to the Treasury. In fiscal year 2013, the Treasury collected a record $53-million in unclaimed property.
Treasurer Hollenbach created the Treasure Finders program as a cost effective means of returning every dollar possible to the rightful owners. The Treasurer works with local volunteers to establish a phone bank, review property listings, and call residents to inform them of potential unclaimed property. Claimants are then assisted throught the process of claiming their property from the Treasury. “We roll-up our sleeves and work hard to locate potential claimants. Our goal is to return every dollar possible,” Hollenbach said. “In the meantime, the money not immediately returned goes into the State’s general fund to be used for education, roads or whatever purpose the Legislature determines,” Hollenbach said. “So in effect the Treasure Finders program benefits all Kentuckians, whether they have a claim or not.”
To find out if you’ve got some unclaimed cash or family valuables coming to you, search the unclaimed property database at missingmoney.com.If you don’t have access to the internet, you can call Treasury’s unclaimed property office toll-free at (800) 465-4722.
Information provided by Mark H. Pfeiffer
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